Austin: Block 71 redevelopment up for grabs

AUSTIN – The University of Texas System is inviting developers to come up with concepts for transforming an entire block in the heart of downtown Austin.

The tract available for redevelopment, known as Block 71, is bounded by West Seventh, Colorado, West Sixth and Lavaca streets.

The system says the redevelopment could include residential units, offices, shops and restaurants.

The system will no longer need the 1.6-acre parcel — where it has two office buildings, four garages and an open-air plaza — because it is building a $102 million headquarters on the north side of West Seventh St., between Lavaca and Colorado streets.

The system’s nine-story headquarters building is expected to be completed in summer 2017. It will accommodate about 550 employees.